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P22-0969, Stoneridge Mall Framework Planning Commission 5 of 6 Guiding Principles The Framework Components includes the Guiding Principles provided by the three ownership entities (and as summarized above). These reflecting Guiding Principles 1 through 10 as listed, points as proposed, with an additional three Guiding Principles (11-13) recommended for inclusion by staff to ensure the City’s interests will be well-represented in future planning, as follows: • Development of new commercial uses occurs in a manner that provides a neutral or positive fiscal balance for the City; • The Framework Plan’s aggregate quantities of land uses of all types, including any housing beyond that already zoned, contemplated in the 6th Cycle Housing Element or otherwise allowable through State housing density bonuses, shall be established in consideration of traffic and other environmental impacts; and • Development is governed by the Objective Design Standards for Housing Sites, the Framework document, and the Pleasanton Municipal Code, until such time a more tailored set of standards is established through future work on the Framework. Allocation of Housing Units Upon further review of the existing and future capacity at Stoneridge Mall, staff is recommending adjustment of the density range in the 2023-2031 Housing Element to be between 50 and 65 du/ac. Accordingly, each of the six legal parcels would be allocated between 150 and 195 du/ac, exclusive of any State Density Bonus units, resulting in an overall range of 900 to 1,170 units. This would equate to between 1,350 and 1,755 units if all projects qualified for a 50-percent Density Bonus – the actual maximum would depend on specific project applications, which may or may not seek density bonuses at the maximum allowed . The Framework Components document attached as Exhibit A reflects this revised density and housing unit range. It should be noted that this is an initial distribution and could be adjusted in the future Stoneridge Mall Framework, with adequate supporting analysis and documentation demonstrating that no unacceptable impacts would occur (e.g., traffic, environmental, public service), and that doing so would be desirable and favorable to Stoneridge Mall and the Pleasanton community. Irrespective of whether the housing allocation is adjusted in the future, in recognition that site planning at Stoneridge Mall is complex and has both physical and logistical constraints, the Framework Components acknowledge that the City would allow flexibility in the location of housing projects within specific parcels or for a housing allocation to be placed on a larger or smaller area than three acres as long as the minimum and maximum densities as specified in the Housing Element, as well as Objective Design Standards for Housing Sites, the Framework document, and the Pleasanton Municipal Code, unless superseded by standards established through future work on the Framework, are met. Design and Placemaking Elements The Framework Components identifies the design and placemaking elements identified below. Should the Framework be modified in the future or as part of other comprehensive planning for Stoneridge, these elements would be required to be retained or reflected to the satisfaction of the City, in its approval of any future plan: